Overview and Scope
Sterile compounding pharmacies are specialized pharmacies that prepare customized medications in a sterile environment to offer tailored medication to individuals to their specific needs. This can be beneficial to people for several reasons such as patient intolerance to a particular commercial dose or an intolerance to a specific constituent. This compounding allows patients to get drugs with customized doses and formulations that eliminate non-essential and undesirable components.
Sizing and Forecast
The sterile compounding pharmacies market size has grown strongly in recent years. It will grow from $4.99 billion in 2023 to $5.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to patient safety concerns, shift towards personalized medicine, home infusion therapies, clinical trials and investigational drugs, support for rare diseases..
The sterile compounding pharmacies market size is expected to see strong growth in the next few years. It will grow to $6.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rise in chronic diseases, aging population and healthcare needs, drug shortages and supply chain disruptions, advancements in precision medicine, increased focus on patient-centric care.. Major trends in the forecast period include automation and robotics integration, stringent regulatory compliance, personalized medicine and specialized compounds, shift to outsourced compounding services, technological advances in aseptic techniques..
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Segmentation & Regional Insights
The sterile compounding pharmacies market covered in this report is segmented –
1) By Product: Injectables, Nasal, Ocular, Otic
2) By Therapeutic Area: Hormone Replacement Therapy, Pain Management, Dermatology, Oncology, Hematology, Dental, Other Therapeutic Areas
3) By Route of Administrations: Intravenous, Intramuscular, Subcutaneous
4) By End-Users: Adults, Pediatrics, Geriatrics, Veterinary
North America was the dominant region in the sterile compounding pharmacies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sterile compounding pharmacies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing demand for personalized medicine is expected to propel the growth of the sterile compounding pharmacies market going forward. Personalized medicine is a type of medicine that prevents, diagnoses, or treats disease by using information about a person’s genes or proteins. Sterile compounding pharmacies play a significant role in offering personalized medications to patients in a sterile environment to provide customized medication to people based on their needs and avoid the possibility of intolerance to certain doses or drug compounds. This improves treatment results and increase patient satisfaction and adherence to therapy. For instance, in 2022, according to the report published by Personalized Medicine Coalition, a US-based company operating in personalized medicine services, personalized medicines have now accounted for at least a quarter of new medication approvals, with the approval of 12 new personalized medicines in 2022 which has increased dramatically. Therefore, the increasing demand for personalized medicine is driving the sterile compounding pharmacies market.
Key Industry Players
Major companies operating in the sterile compounding pharmacies market report are B. Braun SE, PharMerica Corporation, Fagron Group BV, QuVa Pharma Inc., NewCo Pharma GmbH, Medisca, PharMEDium Healthcare Holdings Inc., Central Admixture Pharmacy Services (CAPS), SandsRx LLC, LeeSar Inc., Avella Specialty Pharmacy, Stokes Pharmacy Inc., Imprimis Pharmaceuticals Inc., Wells Pharmacy Network LLC, McGuff Compounding Pharmacy Services Inc., Potter’s House Apothecary Inc., Pharos Innovations LLC, Triangle Compounding Pharmacy Inc., Valor Compounding Pharmacy Inc., Pace Pharmacy, PenCol Specialty Pharmacy LLC, Pavilion Compounding Pharmacy LLC, Olympia Pharmacy, MedisourceRx, Stat RX Pharmacy, Rx3 Compounding Pharmacy, Atlas Pharmaceuticals Co. Ltd., ReNue Rx, Premier Pharmacy Labs Inc., Absolute Pharmacy Inc.
The sterile compounding pharmacies market report table of contents includes:
1. Executive Summary
2. Sterile Compounding Pharmacies Market Characteristics
3. Sterile Compounding Pharmacies Market Trends And Strategies
4. Sterile Compounding Pharmacies Market – Macro Economic Scenario
5. Global Sterile Compounding Pharmacies Market Size and Growth
…
32. Global Sterile Compounding Pharmacies Market Competitive Benchmarking
33. Global Sterile Compounding Pharmacies Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sterile Compounding Pharmacies Market
35. Sterile Compounding Pharmacies Market Future Outlook and Potential Analysis
36. Appendix
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